Don’t employ family or friends
In the domain of start-up businesses, there is a belief that we should refrain from involving our family or friends: in some mysterious way, this could allegedly ruin the prosperity of our business. However, Starbucks, for example, was founded by three fellow students … so this rule is not cast in stone.
Don’t do for free what you are good at
Working for free need not always be a foolish option. Say you have a start-up business offering an online academic writing service. As part of your promotional campaign, you might offer free help with seminar papers or essays. Later you can sell a premium service to all the students who took advantage of the free trial. The free service at least gets you noticed - something every small business needs.
Higher education is essential
There are, of course, such well-known college dropouts as Steve Jobs and Mark Zuckerberg, but there are also many others who never completed their studies, such as the people behind Dell, Oracle, the CEO of WhatsApp, or a co-founder of Twitter.
Of course, this doesn’t mean that dropping out of college will ensure you are successful. On the other hand, if you drop out because of your business, this doesn’t automatically harm your prospects. You just need the zeal to innovate and get ahead.
You can't be too young
This contrived rule is simply not true: a young age has nothing to do with business. If someone has the motivation to start something new, the mindset and energy may be the only things that are needed. Young entrepreneurs have the advantage of being able to take greater risks and to be more flexible. When young, people are usually more agile, more liberal and more open to changes.
-jk-